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and terrorism. this is a statement. i'll read it to you, congressman. president obama is advocating his responsibility as commander in chief and undermining the authority of future presidents. the president does not need congress to authorize a strike on syria. if assad's use of chemical weapons against civilians deserves a military response, and i believe it does, and if the president is seeking congressional approval, then he should call congress back into special session at the earliest date. the president doesn't need 535 members of congress to enforce his own red line. you totally disagree with peter king. tell our viewers quickly, because we're out of time, congressman rangel, why he's wrong and you're right. >> peter king i thought was on the right track when he said the president should call back the congress. but this whole idea that he doesn't need 535 -- at least i hope he's saying we need the majority. to an extent of what his belief is, it's 135th of the united states congress. so i respect him or anybody else who believes the president is authorized to attack another count
is beginning to take shape around, yes, of course, the repeal of obama care. and last night at a heritage foundation defund obama care event in texas, senator ted cruz tried to rally conservatives. >> what happens next is president obama and harry reid are going to scream and yell those mean, nasty republicans are threatening to shut down the federal government. what has to happen after that is we've got to do something that conservatives haven't done in a long time. we've got to stand up and win the argument. why is it that every reporter in the media and a significant percentage of republicans assume with an impasse that president obama will never, ever, ever give up his principals so republicans have to give up theirs. if you have an impasse, you want to know one side or the other has to blink. how do we win this fight? don't blink! >> by the way, cruz was heckled at that event by people saying they wanted health care as well, but there were more supporters, as he said, than there were hecklers. earlier, though, former u.s. senator jim demint and president of the heritage foundation sa
know what we know, the question is what will we do let me empsoys. president obama and we in the united states we believe in the united nations and great respect for the brave inspector who endured regime gunfire and obstructions to their investigation. and as the security general moon said again and again, the un investigation will not affirm who used these chemical weapons. that is not the mandate of the un investigation. they will only a whether such weapons were used. by the definition of their own mandate, the un can't tell us anything that we haven't shared with you this afternoon and we don't already know and because of the guaranteed russian obstructionism of any action of the un security council, the un cannot dwaflinnize the world to act the way it should. let me be clear, we'll talk to the congress and talking to our allies and most importantly talking to the american people and president obama will insure that the united states of america makes our decisions on our own time lines and based on our value asks in our interest. now we know that after a decade of conflict, the am
're in recess for another week or ten days. t there's no indication that the obama white house is asking them to come back into session. there's no guarantee in the house of representatives they would get a vote of confidence for a strike. there's significant skepticism. let's see how powerful this report they will be leasing. that could influence some of the people out there in congress. right now there's a lot of people saying hold off. >> congress is not in session until september 9th. they've been active already. some members of congress brie d ed on a white house conference call. congress wants a debate. they want the president to see authorization and they ain't going to get it, are they? >> no, they're not. if the president called back congress, there's the possibilities they would vote against him. i don't think he's very much interested in doing that. i think all of this is so much the overhang from the involvement in iraq. i think there's a feel, not necessarily about whether the united states can prove that assad has these chemical weapons. i think it's pretty clear that they feel
obama made it clear. syria will have to answer for what the secretary of state called a, quote, brutal and flagrant use of chemical weapons against its own citizens. it comes just hours after white house intelligence report was released. detailing the horrors within that country and the evidence that it has against the assad regime. the president met earlier today with his national security team. and while he confirmed that no final decision has been made, he said the atrocities cannot be ignored. >> this kind of attack is a challenge to the world. we cannot accept a world where women and children and innocent civilians are gassed on a terrible scale. this kind of attack threatens our national security interests by violating well established international norms against the use of chemical weapons, by further threatening friends and allies of ours in the region like israel and turkey and jordan, and it increases the risk that chemical weapons will be used in the future and fall into the hands of terrorists who might use them against us. >> his comments come after secretary of state kerr
obama says he's not going to negotiate on this. he wants a clean bill, raise the debt ceiling, no other issues on the table, no strings attached. just let me borrow more by october so i can pay the bills. that's the statement from president obama no negotiations. that's not going down very well on wall street. they look at this and say here we go again and the dow jones average will open about 120 points down in part because of that no negotiation position from the president. martha: we know from history republicans will come back and say they want to see spending cuts to pass this through. why do you think the president is so intractable on this issue? >> it's possible he thinks if there is a government shutdown over the debt ceiling issue then the president wins politically and the republicans as they have in the past lose politically so he's saying go ahead, shut it down. the market is concerned about the syrian situation and again about another debt crisis 50 days away. martha: there are oil concerns percolating in the market and we'll talk about those a couple minutes away. and a v
% of those surveyed say president obama's recent economic speeches offer nothing new. result of that? 52% of that say they disapprove of the job president obama is doing, and get this, 74% say we rely too much on the government, food stamps, welfare, saying it's too easy to get government handouts. new polls. the numbers suggest the country has a negative view of the president's performance, and his economic agenda. however, investors clearly do not have a negative view of tesla, the electric car company. they sold more cars than all the oh-so-clever analysts expected, and tesla is expanding with a backlog of orders, and look at this, the stock up big, 10-12% of the opening bell. it's not the only stock up. a higher open in a couple minutes, but firsts though, there's this. three winning powerball tickets sold, two in new jersey, one in minnesota. they will split a $448 million jackpot, no identity on the winners yet, but one thing's for sure. they all pay a huge chunk of the prize up front in tax. more on that later in the hourment i'm going to call government lotteries a lousy deal. sh
this administration is going to cave to the recent union demands for obama care changes? he's coming up, top of the hour. a big question on obama care. two people on this show this week said, we're going to have a double dip in the real estate market. team investment's tonya is with us from phoenix. you don't believe that and don't see a dip in the real estate market. but do you see a pause where prices stop going up? >> i see steadying. here are the facts when it comes to the real estate market. prices are still 23% off the peak from 2006. pending home sales, although they were down this month, are up 6.7% from last year. when you look at these facts. credit is it loosening. and that's going to bring the regional banks back to life where first time home buyers can get back in. it's still more expensive to rent than to buy. there is not going to be a double-dip recession and we have a lot of products that haven't hit the market that needs to. this is a stable real estate market and these bumps, not head wind that we're seeing, are good because it means there's checks and balances. stuart: i'
as president obama. >> yeah, joe. david cameron really shocked because it was defections within his own party that caused ta defeat and if president obama decides to take action against the assad regime it appears he will be doing so without the support of our two strongest european allies. after an eight-hour debate the british parliament voted to reject a limited strike against syria. >> why is it that our allies in the middle east like saudi emirates, qatar, kuwait and others, cannot take military action, why does it fall on us yet again? >> put simply, is it in britain's national interest to maintain an international taboo about the use of chemical weapons on the battlefield, my argument is question it is. >> i take a question from the scottish national party. >> does he know if there are any plans over the last few days for any military action before next week, planned at all against syria? >> i obviously can't discuss the details of potential action in detail in front of this house, but i can tell the house that american president and i have had discussions that have been reported in th
at the white house with the latest. what's going on, jim? >> reporter: >> reporter: wolf, president obama did not touch on the situation at the lincoln memorial, though he did address some domestic political issues. it was a brief diversion for the president, who is facing one of the biggest foreign policy challenges during his second term, if only he can overcome some major diplomatic hurdles. as the u.s. moved closer to military action, president obama interrupted his deliberation over syria to mark an historic milestone, the 50th anniversary of martin luter king's "i have a dream" speech. the words belonged to the ages. >> unmatched in our time. >> reporter: it was one of the only few public appearances for the president, who has little time to spend away from the white house. any decision to strike syria over the alleged use of chemical weapons is growing more complicated by the day. over at the u.n., syria's ambassador sounded the alarm and accused rebels of launching their own gas attacks. >> we are in a state of war, preparing for the worst scenario. >> accusing russia of blocking u.n.
. don't we love him for it? thank you so much. no pow wow with putin. president obama has yet to sit down with the president while attending the g20 summit in the country. a california city testing a fix for underwater mortgages, imminent domain. you can't make it up. it's a battle royale with the banks landing in court. medical information exposed. the rush to implement obamacare put sensitive records at risk. see it to believe it. the manning brothers rapping their way through a new commercial for direct tv. literally rapping. ridiculous. we'll show it to you anyway. all that and so much more this hour on "markets now." ♪ >> stocks down, worrying about a pull back from the federal reserve. is this what the month will be like? adam, answer me that. >> there's been a lot of people who have been talking about a four to 8% pull back, a correction. who is winning and losing? the s&p down ten points, dow down 70 points, but leading the charge on the dow, at least some to the positive. united technologies, chevron, merck, they are up now, but the big losers on the dow this morning, disn
the question we must all be asking is what will we do? let me emphasize, president obama, we in the united states, we believe in the united nations and we have great respect for the brave inspectors who in toward regime, gunfire and obstructions to their investigation, but as the secretary general has said again and again, the u.n. investigation will not affirm who use these chemical weapons. that is not the mandate of the u.n. investigation. they will only of term whether such weapons were used. by the definition of their own mandate, the un can't tell us anything that we haven't shared with you this afternoon or that we don't already know. and because of the guaranteed russian obstructionism of any action through the urine -- the un security council the un cannot galvanize the world to act as it should. so let me be clear, we will continue talking to the congress, talking to our allies and most importantly talking to the american people. president obama will ensure that the united states of america makes our own decisions on our own time line is based on our values and our interests. we
count them out of the syria coalition. forget whether president obama has to do this one solo, ask why. in 2011 he helped marshall 21 countries to go after qaddafi. now should we go after assad? it has not even been over two years and nobody has our back as we try to cover theirs? what does that say about us? the russian president who toys with us over a spy who wants we want back but he will not give back. and a military which we have given millions reinvesting its interest with us. a saudi government assuring egypt they have their back in case the money stops flowing from us. the chinese government blasting our debt and investing less in us. a german chancellor who mocks our ways. a french prime minister who mocks us for being inconsistent. canadians who say we have abandoned them on a pipeline and we wonder why our coalition looks like a pipe dream. maybe it is because we're out of ideas, maybe it is because were out of excuses, maybe it is because we're out of money. i don't know. beggars cannot be choosers but they can be losers. i hate to break it to you, we look like losers. una
. waiting to address congress on this issue, 6:00 tonight when obama administration officials will brief congress about the intelligence and perhaps what it plans on doing from here. the administration says this week it will make public intelligence they have showing the syrian regime used chemical weapons but when you talk about the impending action may be taking place, you have the president of the united states and across the ocean the prime minister of britain both selling intervention. >> we said stop doing this, that can have a positive impact on our national security over the long term. may have a positive impact on chemical weapons not used again on innocent civilians. >> it is this house that will survive what steps we next take if you agree to the motion i have set down, no action can be taken until we heard from the u.n. weapons inspectors and there has been further action at the united nations and another vote in this house. those of the conditions that we the british government, the british parliament are setting, and it is absolutely right that we do so. rich: the british p
secretary of defense kitty mcfarlane joining us to talk about what president obama should do about it now. ashley: home prices omri's the the kissel report is a look in the rear view mirror. what does it mean in the keys of rising interest rates? lori: the above administration's economic team, charlie gasparino's exclusive reporting and who could be next to join the lineup. dennis: is not your father's would remark and was your father's it senior chinese communnst official or russian oligarchic. a new brand of luxury emerge in as global wealth disperses to less than 1%. cheryl: sandra smith is at the cme has oil jumps 3%. let's begin with lauren simonetti at the stock exchange where the dow is down big. lori: near session lows, 3 points away, the stock is intensifying as we get later into this session. we get economic data, it wasn't terrible on home prices and consumer confidence but nonetheless syria being the main headline this is what investors are focused on. is not the only culprit to the. we can't forget the debt ceiling, the fed pays back, all these are painting a picture is that
in a meeting with president obama talking about the nsa and your privacy. and harkening back to a time when this dude, kevin costner, was starring in "the untouchables." and who wants these guys, blackberry wants to go private may be. the idea is catching fire. the matter of who wants to put the money down on this troubled cell phone company. and a quick fix for unemployment, energy, people. how we can get americans back to work and solve the energy problems in one swoop. that and so much more on this hour of "markets now." ♪ dagen: so i did not fall and bust my you know what trying to sit down at the top of every show, so it has been a good week. let's start this hour with market stocks on track for another losing day. snapping the three-day winning streak yesterday, but heading south. nicole petallides at the new york stock exchange. nicole: it has been a good week. i will celebrate with you. a successful week. i look at what we see on wall street down half of 1%. 15,422. a loss of about 82 points. we did snap the losing streak since yesterday. however still remains a losing week on wal
not know already. is it enough to move? >> i think at this point it is pretty clear that all that obama can count on is the french. at least the head of the country is with them. i think he really needs to convince our own people of the need for this. this request is really more about 2003 in iraq and 2011 in libya. the congress does not want to be cut out of this decision. connell: they had a real big argument over it. >> it is not clear what is going to happen. we have a lot of democrats and republicans saying we do not want to be committed to a military action whose strategy and consequences at this point cannot be foreseen. connell: i do not know if it is a tough spot, but the president backed himself into a corner. it seems as though action is necessary. there is no turning back at this point. >> i think that is absolute crap. the idea that the president, to bolster his personal credibility would stab our military to attack another country. there is no imminent threat to america. there is no reason not to consult congress. obama is doing the same things that he criticized bush for. bus
another gas attack. >> and you find low public support, you find low congressional support. and obama is going to need to contend with. there hasn't been a clear articulation of what we're going to achieve and how we're going to do it. i think once someone stands up and does that, then you can test the support that you'll get. >> michael, thanks for that reasoned analysis. we appreciate it. getting up early, though he's on the east coast. >> thank you. >> that was most recent analysis i've heard in a long time about having an objective as opposed to just sending a signal. >> largely symbolic. >> it feels like we have been forced into it. we'll have mccain on. he's railing against general dempsey, who says, you know, said let's show much reticence to do anything that it emboldens -- in his view, emboldened these guys. all right, coming up, how twitter is learning from some of facebook's ipo mistakes. first, as we head to break, let's check on the national forecast with the weather channel's alex wallace. >> good morning to you. good morning, we're tracking some showers moving from the
, at the center of the housing bust but wiped out $7 trillion in homeowner equity. mr. obama have another plan to stabilize and boost the housing market. lori: newspapers, a new status symbol for billion is looking to flaunt their wealth. amazon's jeff bezos be with the washington post. dennis: the fight with george soros and carl icahn ran the. charlie gasparino as the long and short. time for stocks as we do every 15 minutes left head to the floor of the stock exchange, adam shapiro, stocks down. adam: not as bad as they were earlier. we are off of session lows and may go above 1700. one of the reasons the dow is down 82 points is ibm pulling but dow down and ibm is down 2.2% accounting for 34 points of of the dow but not only the biggest loser on the dow, they got a downgrade which says their stock price could go as low as $175 a year -- a share, a big fall down is ibm and one issue is people don't want their mainframes as much as they used to. lori: the windy city has one of the most poorly funded pension systems in the country, 50% underfunded. no solutions so far. could be the next major
obama talking about what is probably your biggest investment today, your house. what he's saying and the changes that could be in the works for the housing market. he talked a little bit about it yesterday in a big speech in phoenix. today answering questions about housing, and a brand new list. we love lists, goldman sachs sending out a note of what it calls the 40 cheapest stocks in the market. can they make you money? well, we're going to give you the list throughout our show today. first though, down to sue, nyse. hi, sue. >> hi, ty. right now the markets are falling a little bit, not all that much, but it's the third straight day to the downside. right now the dow jones industrial average is down 47 points. the s&p 500 is off about 6.25, and the nasdaq off 16 and the russell 2000 off 7.5. in terms of interest rates, we actually moved down a little bit on the interest rate earlier this morning, and we're at 2.61%. comex gold is snapping its losing streak, up about two bucks on the trading session and brent crude is down half a percent. kenny polcari a cbs analyst joins me as
days that country has seen in years. president obama calling for calm. trending downward, not just the market, but the president's approval rating on the economy flipping to 35% last month. seven percentage points lower than june. detroit emergency manager apologizing after calling some of the city residents those names. and the nfl hit with another concussion lawsuit. 83 former players led by pro-bowlers. they say they are suffering long-term effects from brain injuries sustained during their playing days. and we're watching the market this hour of "markets now." ♪ connell: those headlines show you there is a lot going on-9 today. we will get to the mess in egypt in just a moment, but first, our market today with the selloff, seeing the biggest decline in a couple of months. nicole petallides starts us off on the floor of the new york stock exchange. nicole: you are absolutely right. the lowest point, the biggest move to the downside since june 20. down about 1.5% right now. back on june 20 the dow dropped over 2%, this is the biggest moving percentage terms since that time. yo
, and the obama administration saying it is ready to act in syria if needed. secretary jack lew on squawk saying moments ago the president will not negotiate over the debt ceiling. >>> good news for tiffany, and luxury, in that it was boosted by sales in china. >>> and the end of the era, bill ackman is bailing on jcpenney, and they are looki in ing to ses shares. >> and we will look at the new home sales to be released. >>> treasury secretary jack lew telling our own john harwood that the president will not e negotiate over the debt limit which could be reached in mid-octob mid-october. take a listen. >> we won't be negotiating over the debt ceiling and congress has authorized funding and committed to expenditures and now the question is do we pay the bills that the united states has incurred. it is the only way for that to do is for congress the act and act quickly. what we need in the economy is certainlity, and we don't need a self-inflicted wound or crisis at the last minute. congress should come back, and they should act. >> jim, they say when it rains, it pours and government is part of t
the u.s. would have to go it alone at this point if president obama wants to take action. the threat of that right now seems to be lessening a little bit. plus, of course, it is a friday before a holiday weekend so things are going to typically be quiet here. traders say before everybody gets back next week and the news flow really starts again. now, what's interesting though is we are seeing a little bit of a shift. the positive data out of the united states. that gdp number is keeping the dollar near a four-week high against the major currencies. of course, we are watching gold prices while we are under 1400, that critical level still hasn't been a bad month for gold. the second b consecutive month that we are going to see a gain for it. kelly, back to you. >> all right, jackie. thanks very much for that. >>> straight ahead, big lots seeing some big gains this week and spiking after reporting earnings are the big box retailers the best way to play retail? we'll talk about that. >>> plus, the government says it will not stop people in colorado and washington from smoking pot. we'll
, president obama returns from vacation and plans to sit down with the leading financial market regulators today. opinions from both sides of the aisle next. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. >>> welcome back to "squawk box." president obama will be sitting down with the leading financial market regulators today to discuss their progress or lack of progress in implementing dodd/frank. joining us to talk about it, tony frato and jerod bernstein. hi, guys. >> hi, andrew. >> before we even go there, i have a joe question for jerod. i don't know if you heard u
by obama just a couple days after the jackson hole meeting here. but there is uncertainty over fed policy. there's a certainty over leadership and economic growth. all those things loom large here. and will be spending the next couple of days trying to figure out if we can get some guidance over where the fed is going here. the absence of a definitive statement by the fed chairman will have to mean another time to happen, simon. >> this is of their own making. the problem with nailing your colors to the mass with forward guidance is it doesn't work if you don't know where you're going to guide people to. if you're split or indecisive. that surely, steve, is what is happening here. they raise the question of tapering. you get the interest rates rising. you feel the pain around the world. but when you actually get to tapering you're not sure if the growth is going to be strong enough because you're not really sure if the fed has the courage of conviction at all. the market will find it very difficult to rally on it. >> you know, i like that analysis, simon, because you're right. you hitch y
to have these conversations in the days ahead. president obama has also been in close touch with leaders of our key allies and the president will be making an informed decision about how to respond to this indiscriminate use of chemical weapons. but make no mistake. president obama believes there must be accountability for those who would use the world's most heinous weapons against the world's most vulnerable people. nothing today is more serious and nothing is receiving more serious scrutiny. thank you. >> secretary of state kerry there with a forceful response to sir why's use of chemical weapons. the united states says it has undeniable evidence that it was used on citizens last week and the secretary pointed out that he had reviewed video from the aftermath of that attack last week and was struck as a human being and as a father by the video, mandy, of that father holding his young, dead child as a result of that attack. we welcome you now to "closing bell" for cnbc. >> we were just listening, of course, as secretary of state kerry and, you know, bill, it was heart wrenching, sol of
obama is set to announce new measures and efforts to restore the public's trust in government surveillance programs coming on the heels of the closed-door meeting on privacy at the white house. president obama met with tim cook, stevenson and a host of other tech industry executives to talk spying, privacy and security in an effort to find a balance between the three. full detail expected at the news conference today and fox business will have live coverage of the event beginning at 3:00 p.m. eastern. adam: oil snapped a losing streak surgeon about $105 per barrel on bullish economic reports out of china. phil flynn is in the trading pits of the cme. don't you take a real risk in believing the economic numbers out of china? >> you do, changes from week to week. everybody was writing china off. they were selling oil on bad economic data. all the sudden china cannot get enough. yesterday china imported more oil than they ever have before. oil actually went down. today strong manufacturing data out of china reuniting the bulls. we will have to rebuild them, they will go up. stron
election. yeah, the vice president, biden, the president obama out there talking about how, you know, we're welcome there. we got him on the run, you know, close to victory. just stop it. there's no need for any u.s. leader to talk about that because it's not going to happen. this is not a zero-sum game or al-qaeda we're concerned about, but radical is line up, jihadists, however you refer to it, it's not going away. it's no good to stand there and crow about it. dagen: good to see you, safe travels, good to see you, be well. >> thank you. dagen: paying a quarter million dollars for the washington post, and that's just walking around money for a billionaire like bezos worth $26 billion or so, but it's good news for the stock. what about the future of the company? dennis is here to tell you. hey, dennis. the post stock up 6% right now, up 4.5% or so when i checked minutes ago, and think how sad that is. the washington post talk is popping because of getting rid of the name sake newspaper. watergate, one the newspapers owned for 80 years, so is bezos buying for the bottom line or financial
: thank you, nicole. president obama eager to highlight a sliver of the economy doing well, real estate. taking to the interpret yesterday at zillow to answer questions about the recovery, housing finance reform, some of what he talked about, but is he on tricky ground? monica is here, and chief economist at first trust advisers, brian, to you first. when you talk about real estate and associating yourself with a recovery, but one that could be called into question, is he treading on dangerous ground here? >> he could be. you know, i actually think the real dangerous ground is, believe it or not, is trying to trash the economy. it keeps growing. it's what we call the plow horse economy. day after day after day, better numbers, today, initial claim, but what worries me is every time the government tries to get involved in a market, it's slowing it down, and, in fact, if you really look at this recovery, the two slowest areas of recovery are employment and housing. the two areas the government tried to help the most, and that's why they are slow to recover. i -- i don't mind his proposal
and with oil pulling back. back to you. connell: out the latest on syria as the obama administration is holding briefings with members of congress on the situation over there. coming as the military really seems to be incraeasing its presence in the middle east this morning. last 15 minutes we have learned a fifth navy destroyers on the way to the region. from the white house, rich edson. rich: this is about selling it to the american people and selling it to congress on that latter front tonight at 6:00 key officials will brief those from congress and the congress committee with congressional leadership. also inspecting as early as today the release of intelligence report laying out the case showing the evidence that the regime used chemical weapons. president obama laid out the goals of any intervention. >> we send a shot to stop doing this. that can have a positive impact on our national security over the long-term and may have a positive impact that chemical weapons are not used again on innocent civilians. rich: meanwhile the british government continues to move forward on this. in the end
obama and his national security team laid out their case for action against syria in a conference call with lawmakers. but here's where things get complicated. the british parliament voted down a strike and israel says it is unlikely to join as well. but france's president says his country can go ahead with plans to strike syria. all this is roiling the markets. oil dropping on news of the british vote late yesterday and you can see right there, things are slightly down this morning, but it is all quite marginal for now. but i'm still -- i'm still trying to understand what we as the u.s. are now supposed to do with all this given what is going on internationally. >> i think about it a lot. i never come up with any answers. it is like i'm debating myself. i feel like i could do a good job on both sides of the debate, which shows you that it is a quandary for anyone trying to deal with it. i got to say, i don't -- i feel a little bit of empathy for the president on this. even though i don't -- i think we put ourselves in this position. >> we put ourselves in a box. everybody agrees we pu
of wages. it's a liberal group and joining the chorus of dissent for president obama's economic policies. the right is chiming in, too. t the cato institute says welfare may pay better than working. and three out of four high school grads don't have what it takes to go to college. we're looking at people who won't find a job or repay their loans. the dow may drop below it this morning. "varney & company" is about to begin. which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. >> good wednesday morning, everyone. eye opening comments on the ec
speech in washington. churches and other bells will ring to mark the hour. president obama will speak today in d.c. the fire near yosemite is one of the largest in california's history. the boost containment to 23%. the fire has consumed 293 square miles. the tomatoes were flying in spain. 130 tons of ripe tomatoes. the town needs the money to pay down debt. by the way, portable showers are available. lori: thank you so much. the unemployment rate may be down. according to my next guest, it will take years for this to return to full employment. you did some of your own calculations on the unemployment situation. we need 2 million more jobs to get us back to where we were. how did you come to this number? >> that is the difference between how many people were employed and how many were employed in july. the actual jobs deficit is bigger than that, however. lori: what is the deficit? >> between seven and seven and a half million. lori: since we follow the payroll report on a monthly basis, how many new payrolls need to be created in the economy. >> if we have job growth of about 80,000
and individual families for coverage is going to be perhaps, a lot more expensive than president obama promised. in fact according to "the new york times" story today, those costs, when you include the out-of-pocket costs for health insurance, plus drug cost, jenna, could cost a family over $13,000 of out-of-pocket costs. more middle income family, they can't afford that, jenna. jenna: the limitations supposed to be in place, if you were an individual would not pay more out-of-pocket than $6300. >> right. jenna: if you were a family not more than 12, $700. that will be moved back another year. >> exactly. jenna: could that be unlimited, if we buy into insurance plan and decide to get insurance that we didn't have it, could we spend an unknown amount of money on health care? >> we don't know the answer to that, yet, jenna. those rules are still to be determined. what we know the out-of-pocket costs were supposed to be cap as you just mentioned, they could for many, many millions of families be a lot higher than the $6300 for a individual and something like 12,000 for a family. by the way when yo
's justice department and the obama administration have taken heat for the lack of high level prosecutions over the meltdown in 2008. there haven't been cases but the record is mixed. in 2009 two hedge understood managers beat fraud charges. that was a setback. better luck when a cup of traders pleaded guilty and a third this year. lots of action on the civil side. the new york attorney general working with the doj sued jpmorgan and sued bank of america and standard & poor's among others. we know there is a push from high up in the justice department to move other crisis cases along. no specifics from holder other than we're not done yet. >> you know, it's interesting, scott, that this stuff is just starting to bubble to the surface even though the 5-year statute of limitations is approaching. when i was looking at some of the bank quarterly filingses a couple weeks ago they did start to disclose the doj is investigating us for mortgage-backed security cases. almost every bank in the mortgage market disclosed that. when i talk to people they said that was because at the staff level the ban
's start with the biggie. >>> the obama administration now warning of a mid-october default deadline. treasury secretary jack lew saying that the government is going to exhaust its borrowing capacity at that point, and then it would be left with about $50 billion of cash on hand. he warns that amount could conceivably be wiped out in one single day. our own john harwood's going to be sitting down with the treasury secretary for an exclusive interview and we're going to have that and bring it to you at 7:30 a.m. eastern time. >>> in other washington news, the white house preparing to release intelligence evidence alleging the use of chemical weapons by syria. secretary of state john kerry called last week's attack a "moral obscenity," and he's laid out the case for a u.s. military response. >> anyone who could claim that an attack of this staggering scale could be contrived or fabricated needs to check their conscience and their own moral compass. what is before us today is real, and it is compelling. so, i also want to underscore that while investigators are gathering additional evid
: protesters storming, 525 people dead, 2000 injured. president obama says the violence needs to stop. let's go to the floor of the new york stock exchange and our very own nicole petallides. nicole: there is a lot going on here. the dow jones industrials down 195 points, which is a loss of one and a quarter percent. the mentality here on wall street is an interesting one. i almost said washington. these people turn to washington and try to see the federal reserve whether or not they would begin to taper the bond buying. we will get to some movers in a moment, couple of things, the 10-year, and gold just spiked moments ago up $26. keep an eye on gold. i wanted to take a look at walmart and cisco with two down components. cisco systems carbon 5% of their global workforce. back to you. ashley: thank you very much. lori: a reflection of the cpi, shows a little inflation in the system. let's talk about the data they lose. the latest reading on the fed installment is the and atlantic region slow down more than expected in august. the news isn't much better in the new york area. edging up 0.2% in lin
. for an agent, call the number that appears on your screen. charles: remember when president obama said this. >> no matter how we reform health care, we will keep this promise this the american people, if you like your doctor, you will be able to keep your doctor. period. >> you can keep your doctor, if you like your doctor, or he'll carry plan, you can keep it. >> if you like your doctor, keep him. >> you will be able it keep your health care plan. period. >> is there a white out for that, period? small businesses are required to provide coverage for workers but not workers families with cost rising guest what is next, spouse andour kids is the next cut. david, we have this debated, on fox business, people say that ttis is a falsehood people are not losing coverage, not separated from their doctors. but small business owners we're told a different story, what is happening? >> well i can tell you what happened with us, i'm -- my brother is the owner, i am part of the family, i have same healthcare coverage as our employees, what we have done, and had to do because, cost of premium has skyroc
on now to major news, president obama making a statement moment ace go on egypt. he said the u.s. will cancel joint military exercises with egypt. to help us understand this, john harwood joins us live now from washington with more. john? >> kelly, it was a minimalist response by the president. you had some people including former advisers of his own saying that the united states should suspend or cut off military aid to the egyptian government. the president did not do that. he said that they were going to cancel those bright star military exercises scheduled for next month and continue to consult with his national security team on other steps. what he was trying to do was signal united states concern but not do anything to significantly weaken the relationship between the united states and the egyptian military. there will be more pressure if the violence continues. for now, this is all the president is doing. >> it's a dangerous position, though, john, that they find themselves in. on the one hand condemning the violence but on the other refusing to support the regime. i it'
, and that is what some would like. how do you feel about that? are you in support of obama's request to congress to move the national minimum wage or the federal minimum wage from $7.25 to $9? >> well, the most important thing we can do right now is to create all jobs and that helphe everybody. we want to create jobs and we have been in that since the recession starting to recover and we are partnering with wa walmart, and dozens of ceos and governors and so creating jobs is critical, but the question is what is the right way to do it? is the right way to do it by choosing between hiring fewer people at higher wages or greater number of peoples at competitive wages that the marketplace will support, and that is really the conversation that we need to have. what's in the best interest of the local communities and workers and we take the view that it is better to be encouraging business growth and development by reducing and eliminating the regulations, and not layering the regulation on the employers and create jobs in all sectors the get the economy move f moving forward again. >> so do you supp
, save money, and never overpay. visit truecar.com >>> on tuesday president obama went to phoenix, arizona to talk about helping out the people he called responsible homeowners. >> lets face it. we also had reckless buyers who knew they couldn't afford it and still took out loans. all this created a housing bubble, especially in places like arizona. it was devastating when that bubble finally burst. triggered a recession. millions of americans who had done think right were hurt badly by the actions of other people. >> i'm all for responsibility. lets remember the people targeted with subprime mortgages were disproportionately women and people of color. even those who had enough money, had good enough credit to qualify for a subprime mortgage. mr. president, i know you don't want to blame these people, right? shouldn't we blame practices in place at bank of america and wells fargo. joining me to answer that, executive business editor of the "huffington post" and author of "past due." also shawna smith, the president of the national fair housing alliance. lynette cox who is co-found
, and how do you prevent that from an open-ended involvement in a war that clearly president obama and the united states military does not want to get involved with in a deep way. >> the public apparently has no appetite for any other conflict? russia immediately said, you know, don't -- you people don't need another adventure in the middle east like iraq and iran. obviously saying the same thing. it's really tough. it's really tough for the president to try to walk. >> reporter: it's more than tough. and you saw assad in an interview with a russian newspaper yesterday saying -- warning the united states that you get involved again, there's going to be a failure like all your interventions in the past. clearly the lessons of long and protracted wars have weighed heavily on the president. this is a president, after all, who got into politics, opposing the iraq war. says he doesn't oppose all war, but he opposes dumb wars, and it's pretty clear from his language and body language and the entire stance of the united states over the last several months that he believes it would be dumb
president obama will sign the bill to cut student loan interest rates to lower the rate on government loans to 33.8-- 3.86% rate. the new rate is retroactive and applies to loans made after july 1st. adam: a city's plan to bring relief is called unconstitutional. richmond, california was planning to seize homes with underwater mortgages using the power of imminent domain, but the group says now, not so fast. wells fargo and deutsche bank are suing the city of richmond saying the map is illegal because that investment group will receive, quote, wind fall profits while the city only gets a small cut. richmond just started the early stages of the process, but several other cities are considering the same kind of deal. lori: farm equipment bidders trying to get the deals at the farm auction. jeff has more from the farm. >> no deals, lori. this has been an incredible auction. used to be auction were a sad affair where a farmer was, you know, getting a pit of what they were worth. that combine sold for more than, actually, than what the farmer paid for it. over to the auctioneer quick if i can. t
-estate, zillow moves o a new high. a 52 week high. president obama teaming up to confirm the hosting of a question and answer session with president obama. we will be moderated by the ceo of zillow. you will be able to write in questions so you can participate in this one. they can be submitted via video and the facebook and twitter page. reporting numbers tomorrow. ashley: lots of interesting zillow. thank you so much. tracy: we are mad because there undervaluing our homes. exactly. all right. more bad news for air travelers. misconduct by tsa employees. they dumped 26% between 2010 and 2012. how concerned should you be? here with the details. ashley: misconduct. >> let me tell you. there are all kinds, everything from stealing to not showing up for work because we don't need people at the airports to do their jobs. lots of problems. a number of complaints, jumping from 2600 in 2010 to 30400 in 2012. a big increase. i say if you are relying on people to give you one your flight -- ashley: all it takes is one to be asleep. >> sleeping is one of the big issues. sleeping on the job is
a roundup of some of the top stories. the obama administration has overturn add u.s. trade panel's ban on the sale of some older iphones and ipads. this move reverses a ruling that had favored samsung over apple in that long running patent battle. the u.s. trade representative says that the decision was based in part on the effect of the competitive conditions in the u.s. economy and the effect on u.s. consumers. this is big news, though. shares of samsung were actually down overnight. just about 1%. apple shares, if you want to take a look at where things stand at least right now, up just barely. again, this is some pretty significant news. we will continue to watch those stocks today. >>> also, the london metal exchange and goldman sachs are being sued over alleged anti-competitive and monopolistic behavior when it comes to aluminum storage. the lme's owner says it will fight the class action lawsuit. we have been talking in recent weeks about this. wall street banks facing increased scrutiny in their involvement in the business for storing and transporting commodities like oil and a
with samsung. the obama administration vetoing a ban on apple products. share of samsung are falling in asia. >> tv blackout, battle between time warner cable and cbs show nothing signs of letting up. >>> the terror threat overseas. many u.s. embassies stay closed now until august 10th. a live report from nbc's pete williams. >>> first up, if you didn't see it, u.s. equity funds saw a record inflow in july. according to trim tabs funds saw $40.3 billion coming in last month while bond funds saw the fourth highest outflow on record. david seeburg at cowan. good monday morning to you. >> good morning. >> david, is this the beginning of something new? >> it seems to be. i mean, $40 billion in july, amazing. still a ton of cash on the sidelines. there's about $9.5 trillion in xhrgs bank deposit and money mark accounts, companies obviously corporate balance sheets reflecting cash. m&a starting to pick up it's the beginning of a rotation that we expect to take equities higher. >> peter, how do you read things here. >> s&p gone from 666 to 1700 without the retail investor. retail money's coming in,
if we go this crazy george w. bush barack obama way which is printing money and overspending and raising taxes or if we will go pro-growth like reagan and if we go the pro-growth agenda i think markets will go up. really way up. dennis: plenty of time to follow over the next few years and in the meantime find one of these hundred dollar bills for you. dennis: how much would you pay for that? >> thanks a lot. dagen: $50 bills are bad luck. in racing in particular. not so much. dagen: coca-cola, artificial sweeteners, and diet drinks in a new ad campaign. dennis: diane macedo has more today. >> i will take any $50 bills, not a problem at all. >> the company is out with defending the use of s like diet drinks, and quality product you can feel good about along side a photo of a smiling woman, and a compound -- emphasizes despite being a trusted brand from 27 years, and doing things like offering low-calorie or no calorie options. and questions about artificial sweeteners calling them, quote, high quality alternatives to sugar and pointing out the safety came as supported and by 200 studies o
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